Infill new construction in Durham

[Zac Hales]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $57,500
Cash invested: $200,000
Sale price: $367,500

Infill new build in Durham. We secured a perfectly flat lot with a few hardwoods and mostly brush and sold it with a new build done to some buyer specifics.

What made you interested in investing in this type of deal?

First new construction project

How did you find this deal and how did you negotiate it?

I knew the lot was getting sold and we made an offer before it was listed.

How did you finance this deal?

Construction loan

How did you add value to the deal?

New construction on a great lot new Duke Hospital. I found the lot, helped with selections and got it sold before hitting the market on the back end.

What was the outcome?

Took longer than anticipated but with appreciation it worked out great.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was the only agent